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  • #23,121
  • Jan 11, 2013 10:39am Jan 11, 2013 10:39am
Quoting petehnm
Good morning everyone... sometimes I think this market loves to pick on me... last night I had a nice long going from 1.0568 with a tp of 1.0605 and low and behold it goes to 1.0602 and it turns around comes back down to 1.0540...now do I just wait for it to go back up or do I take the hit and call it a week... I'm up for the week... but still would like the loss to be smaller... any thoughts would be appreciated..
Pete,

IMO use dynamic TP not static.
If you have a deep pocket just hold to it.
daddybearforex. com
  • #23,122
  • Jan 11, 2013 10:41am Jan 11, 2013 10:41am
So it seems that the upward movement was competamente exhausted!
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  • #23,123
  • Jan 11, 2013 10:41am Jan 11, 2013 10:41am
Quoting Tim_isoara
What time frame you use for entry?
H1 is near bottom, then I look at m15 near a bottom , then I look at m5 bouncing on the bottom and then I look at M1 at bottom and go long.......
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The More You Learn, The More You Earn.....
  • #23,124
  • Jan 11, 2013 10:44am Jan 11, 2013 10:44am
Quoting forexalien
H1 is near bottom, then I look at m15 near a bottom , then I look at m5 bouncing on the bottom and then I look at M1 at bottom and go long.......
Now this can drop a bit further as the smaller time frames go up and come back down and then you will find the bottom. as time passes PA will go up , but you will then have to look out for tops on the shorter TF's for a pull back to test the bottom again. It's easy, you will get it someday soon.......
The More You Learn, The More You Earn.....
  • #23,125
  • Jan 11, 2013 10:47am Jan 11, 2013 10:47am
Quoting DaddyBear
Pete,

IMO use dynamic TP not static.
If you have a deep pocket just hold to it.
Hey papa... not familiar with dynamic tp as opposed to static.. would definitely like to learn though cause this has happened several times... pockets aren't real deep but I feel we'll be going back to1.06...
  • #23,126
  • Jan 11, 2013 10:52am Jan 11, 2013 10:52am
Speeding train is slowing..........
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The More You Learn, The More You Earn.....
  • #23,127
  • Jan 11, 2013 10:52am Jan 11, 2013 10:52am
Quoting forexalien
Now this can drop a bit further as the smaller time frames go up and come back down and then you will find the bottom. as time passes PA will go up , but you will then have to look out for tops on the shorter TF's for a pull back to test the bottom again. It's easy, you will get it someday soon.......

That is some ugly pa, alien you see bottom?
The world you desire can be won. It exists.. it is real.. it is possible..
  • #23,128
  • Jan 11, 2013 10:58am Jan 11, 2013 10:58am
Quoting petehnm
Good morning everyone... sometimes I think this market loves to pick on me... last night I had a nice long going from 1.0568 with a tp of 1.0605 and low and behold it goes to 1.0602 and it turns around comes back down to 1.0540...now do I just wait for it to go back up or do I take the hit and call it a week... I'm up for the week... but still would like the loss to be smaller... any thoughts would be appreciated..
problem imo opinion is the entry level.
We had a last months high @ 1.0584, knowing that you shouldn't took that long @ 1.0568, 1.0610 would be better.
If you were scalping 1.06 should have been enough and missing it 1.0590 also.
What you should do now is more difficult, I'm bearish LT on FA and TA grounds and entered several shorts yesterday between 1.0555 and 1.0600 and wouldn't be surprised PA will not allow it to go back up towards 1.06.
Of course this is my view but I'm sure there are other seeing exactly the opposite so here you have to question yourself why you were bullish and if these reasons still exists. Answering that question includes what type of trader you are, daytrader, scalper, swinging or holding.
Don't be a hero. Don't have an ego. Always question yourself
  • #23,129
  • Jan 11, 2013 11:03am Jan 11, 2013 11:03am
Quoting petehnm
Good morning everyone... sometimes I think this market loves to pick on me... last night I had a nice long going from 1.0568 with a tp of 1.0605 and low and behold it goes to 1.0602 and it turns around comes back down to 1.0540...now do I just wait for it to go back up or do I take the hit and call it a week... I'm up for the week... but still would like the loss to be smaller... any thoughts would be appreciated..
This was my prediction for the top.







Tim_isoara (http://www.forexfactory.com/showthread.php?p=6353701#post6353701)|27 hr ago
http://www.forexfactory.com/nfs/cust...ar102399_3.gif
{quote} DB. With 100-127% fibonacci extension area for end double zigzag is/was, 1.0578-1.0601.For me is good for short.No problem. No more charts to no create confusion.Green pips for you.
  • #23,130
  • Jan 11, 2013 11:05am Jan 11, 2013 11:05am
Quoting USD-Bear
problem imo opinion is the entry level.
We had a last months high @ 1.0584, knowing that you shouldn't took that long @ 1.0568, 1.0610 would be better.
If you were scalping 1.06 should have been enough and missing it 1.0590 also.
What you should do now is more difficult, I'm bearish LT on FA and TA grounds and entered several shorts yesterday between 1.0555 and 1.0600 and wouldn't be surprised PA will not allow it to go back up towards 1.06.
Of course this is my view but I'm sure there are other seeing exactly the opposite so here you have to question...
Nice USD-Bear
  • #23,131
  • Jan 11, 2013 11:07am Jan 11, 2013 11:07am
Quoting Mr. Scott
That is some ugly pa, alien you see bottom?
you could try a long here, but wait for it to test the bottom with a HL on a M1
The More You Learn, The More You Earn.....
  • #23,132
  • Jan 11, 2013 11:11am Jan 11, 2013 11:11am
Quoting forexalien
you could try a long here, but wait for it to test the bottom with a HL on a M1
.
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The More You Learn, The More You Earn.....
  • #23,133
  • Jan 11, 2013 11:11am Jan 11, 2013 11:11am
Quoting USD-Bear
problem imo opinion is the entry level.
We had a last months high @ 1.0584, knowing that you shouldn't took that long @ 1.0568, 1.0610 would be better.
If you were scalping 1.06 should have been enough and missing it 1.0590 also.
What you should do now is more difficult, I'm bearish LT on FA and TA grounds and entered several shorts yesterday between 1.0555 and 1.0600 and wouldn't be surprised PA will not allow it to go back up towards 1.06.
Of course this is my view but I'm sure there are other seeing exactly the opposite so here you have to...
Hello usd-bear..... I actually was scalping and originally 1.06 was tp but I was kind of on a roll and got carried away.. now I'm fighting with draw down...
  • #23,134
  • Jan 11, 2013 11:16am Jan 11, 2013 11:16am
Quoting petehnm
Hello usd-bear..... I actually was scalping and originally 1.06 was tp but I was kind of on a roll and got carried away.. now I'm fighting with draw down...
565 is fib retrace of 50% that might be your out, or DB knows it is going large...............
The More You Learn, The More You Earn.....
  • #23,135
  • Jan 11, 2013 11:17am Jan 11, 2013 11:17am
Quoting forexalien
you could try a long here, but wait for it to test the bottom with a HL on a M1

I buy 1.0537.

We had similar whacky pa last Friday, give it a go here.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #23,136
  • Jan 11, 2013 11:17am Jan 11, 2013 11:17am
Quoting petehnm
Hello usd-bear..... I actually was scalping and originally 1.06 was tp but I was kind of on a roll and got carried away.. now I'm fighting with draw down...
well in that case spank yourself take a petit loss as a man and move on would be my advice
Don't be a hero. Don't have an ego. Always question yourself
  • #23,137
  • Edited 11:29am Jan 11, 2013 11:17am | Edited 11:29am
IMO your assumed top was a wide range. Second it may not be the top. Postman always rings twice. Some may break in after the second time.

Quoting Tim_isoara
This was my prediction for the top.


Tim_isoara (http://www.forexfactory.com/showthread.php?p=6353701#post6353701)|27 hr ago
http://www.forexfactory.com/nfs/cust...ar102399_3.gif
{quote} DB. With 100-127% fibonacci extension area for end double zigzag is/was, 1.0578-1.0601.For me is good for short.No problem. No more charts to no create confusion.Green pips for you.
daddybearforex. com
  • #23,138
  • Jan 11, 2013 11:21am Jan 11, 2013 11:21am
Now, the light at the end of tunnel is getting brighter and bigger.... I may need my sunglasses soon....
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daddybearforex. com
  • #23,139
  • Jan 11, 2013 11:25am Jan 11, 2013 11:25am
Quoting DaddyBear
Now, the light at the end of tunnel is getting brighter and bigger.... I may need my sunglasses soon....

I think we need a picture to make sure it is not a train.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #23,140
  • Jan 11, 2013 11:25am Jan 11, 2013 11:25am
Quoting DaddyBear
Now, the light at the end of tunnel is getting brighter and bigger.... I may need my sunglasses soon....
http://www.forexfactory.com/attachme...1&d=1357924987 (http://www.forexfactory.com/attachment.php?attachmentid=1115038&d=1357924987)
HOLY CRAP !!!!! That will scare ya.............
The More You Learn, The More You Earn.....
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